A team from Morgan Lewis that included partners Barbara Shander, Joanne Soslow, Judith Walkoff, Amy Kelly and Kathleen Sanzo advised privately held pharmaceutical development company InnoPharma Inc. on its acquisition by Pfizer Inc. Under the terms of the agreement, Pfizer will acquire InnoPharma for an upfront cash payment of $225 million, with up to $135 million of contingent milestone payments.

The closing of the transaction is subject to U.S. regulatory approval and is expected to occur during the third quarter, according to the firm.

Established in 2005, New Jersey based-InnoPharma is a sterile product development company focused on developing complex generic and innovative specialty pharmaceutical products in injectable and ophthalmic dosage forms. The company’s current portfolio includes 10 generic products approved by the U.S. Food and Drug Administration and 19 products pending approval at the FDA, as well as a pipeline of more than 30 injectable and ophthalmic products under development.

“Today’s announcement is an important milestone as we continue to look for innovative growth opportunities for our sterile injectables portfolio, which will increase to 73 products with this acquisition,” said John Young, group president, Pfizer Global Established Pharma, in a statement. “InnoPharma’s technical capabilities in bringing complex generics to market, coupled with its strong talent and product pipeline, build on our efforts to develop and commercialize critically important medicines for the patients who need them.”

Amy Pocino Kelly is a partner in Morgan Lewis’s Employee Benefits and Executive Compensation Practice. Kelly’s practice focuses on all aspects of the firm’s employee benefits practice. She advises plan sponsors of all types, including public and private companies, tax exempt organizations and governmental employers regarding design, governance, operation and compliance of qualified and non-qualified retirement plans, equity and executive compensation arrangements and welfare benefit plans.

Kathleen M. Sanzo is a partner in and leader of Morgan Lewis’s FDA Practice. Sanzo’s practice focuses on all regulatory and compliance matters of the FDA relating to prescription and OTC drug and biologic testing, manufacture, approval, marketing and distribution; pre-clinical and clinical testing; device promotional and labeling issues; food, drug and device compliance matters; food additive and dietary supplement matters; and food, drug and device compliance matters of the Consumer Product Safety Commission and related state enforcement agencies.

Barbara J. Shander is a partner in Morgan Lewis’s Business and Finance Practice and co-leader of the firm’s Private Equity Subpractice. Shander advises public and private company clients as well as private equity funds, with an emphasis on mergers and acquisitions, dispositions and financing transactions. Shander has represented buyers and sellers in negotiated transactions involving privately held businesses and subsidiaries and divisions of public companies.

Joanne R. Soslow is a partner in Morgan Lewis’s Business and Finance Practice and co-leader of the firm’s Securities Industry Practice. Focused on corporate and securities matters, Soslow is dedicated to working with public companies and emerging growth businesses primarily in the biotechnology, financial services, technology, medical device and specialty pharmaceutical sectors.

Judith A. Walkoff is a partner in Morgan Lewis’s Business and Finance Practice and also leads the firm’s Environmental Transactions Practice. Walkoff represents clients such as private equity firms and publicly and privately held corporations and financial institutions with respect to environmental issues that arise in the context of U.S. and cross-border M&A, financing and real estate transactions.

Contributing Author

Amy I. Stickel

Amy I. Stickel has extensive experience covering the legal, financial and pharmaceutical industries as a writer and editor. A past managing editor of Corporate Legal Times and...

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